BNB saw a modest gain of 2% in the past 24 hours, pushing past $627 before settling with firm support at $616.55.
The move comes as the BNB Chain, the blockchain tied to BNB, saw its daily transactions nearly double to 17.6 million since mid-May, according to data from DeFiLlama.
Crypto markets have been jittery amid escalating geopolitical tensions and shifting trade policies between major economies.
One factor helping to buoy sentiment is the upcoming Maxwell hard fork, scheduled for June 30. If successful, it will reduce block times from 1.5 seconds to 0.75 seconds, potentially making the network more competitive with high-speed chains.
If momentum continues, BNB may attempt to reclaim the $650 level and push toward $700. But much will depend on how users respond to the technical upgrades and how the geopolitical situation develops.
Technical Analysis Overview
- BNB formed a strong uptrend, with notable volume support that helped establish a key support level at $616.55, according to CoinDesk Research’s technical analysis model.
- The most significant breakout came as the price surged through resistance at $624.59 and reached the session high of $627.85.
- After several hours consolidating between $620 and $625, BNB broke resistance at $625.24, signaling potential for further upside into the $630–$635 range.
- BNB rallied from $619.31 to $627.03, adding 1.25% in a sharp upward move that reinforced bullish momentum, before seeing a decline to now stand at $621.6.